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    Home - E-commerce & Retail - Joann shoppers to shift purchases to Michaels, Hobby Lobby
    E-commerce & Retail

    Joann shoppers to shift purchases to Michaels, Hobby Lobby

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    Joann shoppers to shift purchases to Michaels, Hobby Lobby
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    Dive Brief:

    • As Joann shutters its store footprint, respondents to a recent Numerator survey said they would now shop for those products at Michaels or Hobby Lobby (74%), other online retailers (44%), mass retailers like Target or Walmart (39%), independent or local craft or fabric stores (24%) and dollar or discount stores (23%), according to results shared with Retail Dive.
    • While eight in ten respondents said they were upset by Joann’s closures, nearly seven in ten (69%) said the store’s closures would have a slight to significant impact on them, the survey found. 
    • Among the reasons shoppers bought items from Joann were good sales or discounts (65%), product assortment (65%), convenient locations (50%), good prices (49%) and its brand reputation (43%), per the survey results.

    Dive Insight:

    Craft chain stores Michaels and Hobby Lobby are poised to pick up Joann’s market share. 

    Numerator’s survey noted that shoppers turned to Joann for sewing and crafting supplies (79%), fabrics (58%), holiday and seasonal decor (54%), and home and gardening items (23%). 

    Last month, Joann filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, a move it made less than a year after its previous bankruptcy filing in March 2024. In its January bankruptcy filing, it listed its liabilities as between $1 billion and $10 billion. 

    This month, Joann sought court approval to close more than 500 of its stores across the country. The company hoped to find a buyer to avoid shuttering entirely. However, this week GA Group and the retailer’s lenders ultimately won the auction, and initiated going-out-of-business sales at all 800-plus Joann locations. In court documents, GA Group and the retailer’s lenders said they would provide cash consideration to pay the company’s lenders in full and offer an extra $105 million credit bid for the majority of Joann’s assets.



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